Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

Retirement Planner is committed to delivering best practice advise and discussion to our audience of professional retirement advisers and planners. This half day conference includes the opportunity for interaction and debate between delegates and speakers as they share unique insights.

Baby boomers 'rarely seek advice'

Three in ten so-called baby boomers have never seen a financial adviser, research from Halifax suggests.

A third say they do not have enough information and understanding of their savings and investment options while a fifth of those who have seen a financial adviser have not done so in the past five years.

In addition, the Halifax Financial Services research found almost a quarter of boomers will be relying primarily on a final salary scheme for their income in retirement while 70% will rely on a state pension for at least some of their retirement income.

Paul Stanley, head of Halifax Financial Services, says: “Baby boomers represent a large sector of our population. Financial security in retirement is an issue for them now.

“The first wave of baby boomers is entering retirement but they may not be best equipping themselves for a comfortable retirement.

“They could be making their money work harder for them. Saving for retirement is becoming increasingly important as the population ages. Advice can play a critical role in this.”

Almost one in five people in the UK are aged over 65 and the ageing of the population will gain pace as the product of the post-World War II baby boom moves into their 60s.

The UK's share of people aged 65 and over in the population has risen from 5 per cent in 1901 to 16 per cent now, according to Halifax.

Conversely, the proportion of people aged 0 to 14 has fallen from 33 per cent to 19 per cent over the same period.

If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Scott Sinclair on 020 7034 2636 or email [email protected]